About Pressure Relief Valves
Pressure relief valves help to release the pressure from a pressurized vessel when the force exerted on the disc exceeds the process inlet force. The oil and gas, power, chemical, food and beverages, pulp and paper, and pharmaceuticals industries require the installation of pressure relief valves in their primary production systems to control the excess pressure generated by the flow of fluids, gas, or steam; the absence of which can lead to overall system failure. Different types of pressure relief valves are used based on the needs and demands of the production process. Pressure relief valves increase the operational efficiencies of the industrial production process. They also enhance safety measures when used in process industries.
Technavio’s analysts forecast the global pressure relief valves market to grow at a CAGR of 1.65% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global pressure relief valves market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of valves during the forecast period.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pressure Relief Valves Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Pressure Relief Valves Market: Curtiss-Wright, GE, LESER, Pentair and Weir Group.
Other Prominent Vendors in the market are: Alfa Laval, Bopp & Reuther Sicherheits-und Regelarmaturen, Crane, Emerson Electric, Flowserve, IMI, Neway Valve (Suzhou), Valvitalia Group, Velan and Watts Water Technologies.
Commenting on the report, an analyst from Technavio’s team said: “The rising demand for natural gas in China is likely to propel investment in gas pipeline projects. The government has commissioned many projects to transport oil and natural gas from resource-abundant provinces to other regions. This will ensure sustainable development of natural resources across the country.”
According to the report, the Indian petrochemical and chemical industry has been growing significantly due to increased demand from the process, manufacturing, and agricultural sectors. Petrochemical and chemical plants include methanol plants, ethylene plants, and fertilizer production plants. The requirement for pressure relief valves in these plants is diverse, such as for high pressure and backpressure, protection from thermal expansion, and small and large capacities. For all applications, there are high demands placed on inspection and documentation.
Further, the report states that the threat from low-cost vendors restricts the entry of international vendors in developing countries, especially in APAC, limiting the growth of the global market.
Curtiss-Wright, GE, LESER, Pentair, Weir Group,Alfa Laval, Bopp & Reuther Sicherheits-und Regelarmaturen, Crane, Emerson Electric, Flowserve, IMI, Neway Valve (Suzhou), Valvitalia Group, Velan, Watts Water Technologies.